TechTarget (NASDAQ:TTGT) CFO Sells $50,669.41 in Stock

Key Points

• TechTarget CFO Daniel Noreck sold 8,459 shares of the company's stock for $50,669.41, reducing his ownership by 10.58% to a total of 71,519 shares valued at $428,398.81.
• TechTarget's stock is currently priced at $6.22, down 0.3%, with a twelve-month low of $5.55 and a high of $33.08.
• The company reported an earnings per share of $0.29 for the last quarter, surpassing analysts' expectations, but has a negative net margin of 252.96% and a projected EPS of -0.46 for the current year.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) CFO Daniel Noreck sold 8,459 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $5.99, for a total value of $50,669.41. Following the transaction, the chief financial officer directly owned 71,519 shares of the company's stock, valued at $428,398.81. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

TechTarget Stock Down 0.3%

NASDAQ TTGT traded down $0.02 during trading hours on Monday, hitting $6.22. 530,773 shares of the company traded hands, compared to its average volume of 383,390. The business's 50-day moving average is $7.01 and its 200-day moving average is $9.48. TechTarget, Inc. has a twelve month low of $5.55 and a twelve month high of $33.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $444.67 million, a price-to-earnings ratio of -14.81 and a beta of 0.96.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.17. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. The company had revenue of $119.94 million for the quarter, compared to analysts' expectations of $106.19 million. Sell-side analysts anticipate that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds and other institutional investors have recently modified their holdings of TTGT. Barclays PLC lifted its stake in TechTarget by 5.6% in the 4th quarter. Barclays PLC now owns 48,477 shares of the information services provider's stock valued at $961,000 after purchasing an additional 2,563 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TechTarget by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider's stock valued at $15,977,000 after purchasing an additional 11,646 shares during the last quarter. State of Tennessee Department of Treasury increased its holdings in TechTarget by 8.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock worth $239,000 after purchasing an additional 910 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in TechTarget by 48.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,809 shares of the information services provider's stock worth $373,000 after purchasing an additional 6,126 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in TechTarget by 7.0% in the 4th quarter. Earnest Partners LLC now owns 485,945 shares of the information services provider's stock worth $9,631,000 after purchasing an additional 31,670 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on TTGT shares. Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of TechTarget in a report on Wednesday, July 2nd. Lake Street Capital dropped their price target on TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Wall Street Zen lowered shares of TechTarget from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. lowered shares of TechTarget from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Finally, Craig Hallum began coverage on shares of TechTarget in a research report on Monday, June 9th. They set a "buy" rating and a $12.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.40.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.

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